Solar

TCL Zhonghuan expects H1 2024 net losses of 4-4.5 billion yuan ($550-620 million), significantly wider than the previous year’s loss. The Chinese solar giant cited plunging prices and inventory writedowns driven by severe oversupply across the manufacturing chain. Although global PV demand remains resilient, inventory buildup and cooling demand caused sharp reversals after a temporary surge. As a key industry player, its financial distress reflects the solar sector’s turmoil after excessive expansion—current capacity is ~80% above demand, triggering failures and consolidation. Regulatory efforts aim to curb disorderly pricing and retire obsolete capacity, potentially strengthening the sector long-term.

Sunnova Energy has filed for Chapter 11 bankruptcy on June 8, 2025, aiming to sell assets and secure its future via a court-supervised process expected to take about 45 days. Agreements with TEPH Subsidiary and Lennar Homes will provide liquidity during the process. Existing tax equity partnerships and asset-backed securities are largely unaffected. Sunnova will continue operations and customer service, with interim court approvals in place to ensure continuity.